Knowledge is Power on the Path to Buying a Home

Homeownership is on the goal list for many, but sometimes it’s hard to know exactly how to get there. From understanding the homebuying process to pre-approval and down payment assistance options, uncertainty along the way can ultimately hold some buyers back. Today, there are over 75 million Millennials and 67 million Gen Z’ers in the U.S., making up a significant number of both current and soon-to-be homebuyers. According to a recent Fannie Mae survey of more than 2,000 of these individuals: “88% said they are confident they will achieve homeownership someday.” In addition, the survey also reveals that for younger generations, the motivation to own a home may be more emotional than financial compared to previous generations: 78% believe it’s the best way to live the way they want, without restrictions 80% believe homeownership is the best way to make it on their own Whether homeownership goals come from the heart or are driven by financial aspirations (or maybe both), the obstacles standing in the way don’t have to bring these dreams to a screeching halt. The same survey also reveals two key roadblocks for potential buyers. Thankfully, they’re both easily overcome with the power of knowledge and trusted advisors leading the way. Here’s a look at these two challenges potential homebuyers face today: 1. 73% of future homebuyers are unaware of low-down-payment mortgage options For those who want to purchase a home, low-down-payment options are instrumental to affording one sooner rather than later, especially given the amount of debt many younger adults have accumulated. Fannie Mae also notes: “Among the challenges they face is an unprecedented amount of debt, along with a lack of understanding of the mortgage process and their own purchasing power. Debt, in particular, creates many obstacles such as a limited ability to save and the fear of taking on more debt.” Today, there are more than 2,340 down payment assistance programs available nationwide to help relieve this pressure. Understanding what’s out there and the options available may help many buyers become homeowners faster than they thought possible. In a year like this, with record-low mortgage rates making their mark in the history books, being able to take advantage of the opportunity buyers have right now is essential to long-term affordability. 2. 64% of buyers expect lenders and other real estate professionals to educate them about the mortgage process And they should expect that. There are misconceptions on the funds it takes to acquire a first home. In another blog post I bust the myth that a 20% down payment is required for first-time buyers. It's most often not....not even close. One of my trusted lenders can give you a realistic picture of where you stand and where you need to be if you aren't there yet.   Bottom Line If you’re aiming for homeownership someday, it may be in closer reach than you think. Let’s connect so you can learn about the process and get the guidance you need to make it happen.

2021 HOME TRENDS Sellers & Buyers Should Know

HAVE YOUR HOME PREFERENCES OR NEEDS CHANGED SINCE 2019? WHAT FEATURES ARE YOU FINDING YOURSELF NEEDING THAT WEREN'T A PRIORITY BEFORE LAST YEAR? HERE'S A LIST OF SOME OF THE MOST PREVALENT TRENDS. IF YOUR NEEDS HAVE CHANGED AND YOU'RE READY TO BEGIN SEARCHING FOR A NEW HOME, I'D LOVE TO HELP. CALL OR TEXT ME AT 615-952-1188.   TOP HOME TRENDS MULTI-USE KITCHENS THAT CAN BE USED FOR ZOOM CALLS, CLASSROOMS, COOKING AND ENTERTAINING SPACE THAT CAN BE UTILIZED AS HOME OFFICE SPACE (ZOOM ROOMS, QUIET ROOMS) SMART HOME TECH: AUTOMATIC AND MOTION SENSOR LIGHTING, SMART PHONE-CONTROLLED HOME TECH, AND VOICE-ACTIVATED CONTROLS OUTDOOR LIVING SPACES THAT BECOME A RELAXING RETREAT AS WELL AS EXTRA SPACE FOR ENTERTAINING OUTDOORS. OUTDOOR KITCHENS, AUDIO SYSTEMS AND TRELLISES WILL BECOME MORE POPULAR CALMING ENVIRONMENTS WITH NEUTRAL COLORS, LOTS OF NATURAL LIGHT, INDIRECT LIGHTING AND COLORS THAT BRING THE OUTDOORS IN TO FEEL LIKE A SANCTUARY DEDICATED SPACE FOR AT-HOME WORKOUTS WILL BE IMPORTANT. OUTDOOR WORKOUT SPACE OR DEDICATED INDOOR AREAS WILL BE VITAL REPURPOSING OF EXISTING ROOMS TO MAKE THEM MULTI FUNCTIONAL: A GUEST BEDROOM THAT DOUBLES AS A HOME OFFICE, LAUNDRY ROOMS THAT INCORPORATE ROOM FOR A WORKSPACE OR HOMEWORK AREA AN INCREASE IN GARDENING AS A MEANS TO GETTING MORE FRESH AIR AND BEING OUTDOORS: PEOPLE GROWING VEGETABLES IN THEIR BACKYARDS, UTILIZING RAISED GARDEN BEDS, WINDOW BOXES AND MORE.